Deutsche Bank upgrades MGM to buy, citing Vegas Strip comeback and improving margins

Members of staff prepare for the opening of the casino at the MGM Cotai resort in Macau.
Anthony Wallace | AFP | Getty Images

MGM Resorts has not gotten enough credit for the strength of its casinos as Las Vegas reopens, according to Deutsche Bank.

Shares of the casino and hotel company have risen nearly 37% year to date, thanks in part to the economic reopening and the continued growth of online gambling.

Analyst Carlo Santarelli upgraded the casino stock to buy from hold in a note entitled, "Margins to surprise to the upside."

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